Middle Ease Critical Infrastructure Protection (CIP) Market Development and Growth in Industry
Rise in the development of automation and ICT dependency, across the verticals and the need for ensuring cost effective security solutions from cyber threats/attacks is driving the critical infrastructure protection market in Middle-East. Critical infrastructure security solutions ensure cost efficiency and reliability as they deploy both traditional physical security and the modern cyber security. Currently the focus of the national and state governments in Middle East is to ensure protection to these infrastructures and therefore prepare themselves for the present and future.
Middle East countries are estimated to have more than 80 percent of world’s proven oil reserves. The aged infrastructure, increased spending and ever growing demand have forced the utility and energy companies to spend billions of dollars to adopt best security practices. Oil and Gas producers in Middle East plan to invest over $740 billion in energy projects over the next five years. Saudi Arabia with an estimated investment of $165 billion tops the list and is closely followed by UAE estimated to invest an estimated $107 billion during the same forecast period. Qatar and Iraq have shown huge potential towards energy spending estimated at $ 68 billion and $56 billion respectively. Saudi Arabia is estimated to have the largest market share in the transportation and sensitive infrastructure investments in the forecast period. Construction and transportation projects worth $39 billion have been awarded in the GCC region in the first half of 2013. Saudi Arabia is closely followed by Qatar and UAE in terms of spending towards transportation and sensitive infrastructure spending.
Globally, revenues for security services are increasing with the rising demand for cost saving and business automation enhancing solutions. Applications of the security solutions are getting bigger by the day and are applied across all the industry verticals. While organizations across the globe are looking forward for solutions that integrate the solutions into their mainstream process workflows, the service providers are optimistic about enriching their offerings by delivering value added services.
Middle East CIP other than energy and transport has a wide portfolio of applications across manufacturing and chemical industry, sensitive infrastructures such as stadiums, government facilities, manufacturing, banking facilities, historical monuments, holy places and defense establishments. In terms of geographies, Saudi Arabia is expected to be the biggest market in terms of revenue contribution, while United Arab Emirates (UAE), Turkey and Bahrain are expected to experience increased market traction, during the forecast period. Especially countries such as Saudi Arabia, UAE and Qatar are expected to spend huge amounts on energy, transportation and sensitive infrastructure projects.
Related Reports:
Middle East Critical Infrastructure Protection (CIP) Market - Advancements, Business Models, Technology Roadmap & Market Forecasts & Analysis (2013 – 2018)
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